The Communications Authority of Kenya (CAK) has ruled in favour of Airtel after the company accused its rival Safaricom of anti-competitive practice, a move coming weeks after Safaricom had decided to open up the network. The CAK has also prohibited the mobile operator from levying extra charges on competitors using its network. This brings to
The bank’s regional expansion and diversification strategies have been successful and all the subsidiaries contributed positively to the performance. Profit before tax increased to Kshs.10.8 billion up from Ksh. 8.9 billion recorded for the same period last year. Profit after tax also increased by 21% to Kshs.7.6 billion. During the period under review, the Bank
Nairobi residents will no longer have to contend with long queues when paying for services after the county government launched an e-payment platform to ease payments and streamline revenue collection. Among the services targeted are matatu seasonal ticketing, rent collection and market stalls. In his speech during the launch Governor Evans Kidero said the e-payment
Commercial banks in Kenya will begin disclosing to loan applicants the components that make up the total cost of credit as a percentage known as the Annual Percentage Rate (APR). This follows the launch of the “Credit Calculator Online” website and mobile application that were developed by Kenya Bankers Association (KBA) in conjunction with the
Leading Kenyan operator Safaricom will not have to cut fees on making M-Pesa transactions across networks after the Competition Authority declined to order a reduction as petitioned by rival Airtel. HumanIPO reported earlier this month the Competition Authority of Kenya was reviewing a case brought by Airtel, with the country’s second operator asking the authority
KCB Bank Group is set to formally roll out Islamic banking services in Kenya next month as it expands its product offering in the East African region. The KCB Group Chief Executive Officer, Mr. Joshua Oigara said the bank has now received the necessary approvals to enable the launch of Islamic banking in all 182
EBI Investment Corporation Kenya Limited, a subsidiary of Ecobank Capital has been granted an investment bank license by the Capital Markets Authority in Kenya. Ecobank Capital (registered as Ecobank Development Corporation) is the investment banking arm of the Ecobank Group, with operating offices currently in Abidjan, Accra, Lagos and Douala, including dealing membership of five
The Kenya Bankers Association has launched its “Credit Calculator Online” website and mobile application informing loan applicants of the components that make up the total cost of credit as a percentage – known as the Annual Percentage Rate (APR). Both the site and the app were developed by the KBA in conjunction with the industry’s
In an ongoing process geared at setting the pace for the full scale rollout of the Equity 3.0 strategy aimed at facilitating a cash lite economy in East Africa, Equity Bank has now confirmed its partnership with some of the world’s leading merchant business and payment processing firms. The Bank, which reported a 58% growth
CfC Stanbic Bank in Kenya have opened the first ever digital experience bank branch in the country. The branch in Mombabsa’s Nyali Centre Mall is set to radically alter the way customers take care of their financial needs and conduct their daily banking business. CfC Stanbic Bank’s focus is on enhancing the way Kenyans engage
